I have absolutely no idea how it all works but it would be very cool if I could do overpayments through the Monzo app to my mortgage.
Unfortunately, the Mortgage integration doesn’t run through open banking, and so I highly doubt this would be possible (reliably).
Alas - this is correct that mortgage accounts aren’t available through Open Banking so it means we can’t do fun things like see a balance or make a payment against it - which is why we’re proud of what we’ve managed without this (and also why no one had ever attempted it before us )!
We do have some ideas on how we could achieve the “make an overpayment” experience buuuut one area of uncertainty I have is how we can manage the period of uncertainty between when a payment was made and the 4-6 weeks of when that would be reflected in your credit report (and we wouldn’t see it as a specific extra payment in your credit file).
I really welcome folks’ thoughts on how you’d feel about that!
Issue: I have two properties, with two mortgages. I can see both on monzo. The issue is that the home value for property A (£600,000) shows for both property A and property B.
Property B is valued at £165,000. Whichever property I update, the updated value is pulled through for both properties, which means the equity shown is incorrect.
Details to reproduce: update value for property A, the same value is then shown for property a and property b
App Version: 5.58.0
Hi there - now that is odd and not something we’ve seen!
Let me drop you a DM (and if you’re happy to share) for the email address you use for Monzo and I can get one of the Engineering team to take a look at what might be causing this!
Will Monzo be offering mortgages at some point in the future? I remember it being something that was on the roadmap when I first signed up at the end of December 2018, but if disappeared about a year later with no mention of it since
It might be, but as you can imagine it requires a hell of a lot of capital and stuff.
That was more being able to connect you with a broker - I think - I was in some of the research interviews around that etc.
BUT - I think there’s some more stuff coming off the back of the mortgage stuff in the App
Fairly sure they were also hiring someone experienced in home ownership etc so might be on the way eventually.
In the short term - did someone say a major update to our overpayment calculator in the next week or so?
Practically speaking, that’s always been me hiding in plain sight!
We have indeed been hiring for a Senior Product Manager to cover ‘Homeownership’ but mortgage experience isn’t a requirement (like we don’t often require banking experience for other roles). Hopefully we can introduce them to the Community over the coming months!
I think you did … Just then
@HB I take it the new overpayments is incoming… Currently getting an error
It’s working here
I have checked and I’ve got the new overpayment calculator page
Still broken for me, android v5.61
Get an iPhone!
I shall never surrender!
Thanks for letting us know - I’m currently on holiday but the team know (@gary’s on the case) and doing some investigation!
If needed he might DM you for your Monzo email address if we’re struggling to debug from afar
Enjoy your holiday!
Thank you! You can bet that I was still racing to update the app on Monday to see the new calculator land whilst being on the other side of the world!